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PZ Cussons
(LSE:PZC)
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Rating:65Neutral
Price Target:
101.00 p
â–¼(-2.51% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by improving fundamentals (earnings turnaround and materially stronger balance sheet) and a constructive technical trend. These positives are tempered by valuation ambiguity from a negative P/E and lingering execution/macro risks noted on the earnings call, including normalization of FY26 profits after one-off FX gains.
Positive Factors
Broad-based revenue growth
Growth across all four lead markets and the top 10 brands indicates broad demand for PZ Cussons’ branded portfolio rather than reliance on one product or geography. Continued like-for-like expansion can support scale, brand investment and improved operating leverage over the next several quarters.
Negative Factors
Reported profit includes one-off FX gains
A meaningful portion of reported FY26 operating profit came from non-recurring foreign-exchange benefits, so headline earnings overstate the underlying run rate. The normalized base is lower, making future profit growth more dependent on genuine revenue, margin and productivity improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based revenue growth
Growth across all four lead markets and the top 10 brands indicates broad demand for PZ Cussons’ branded portfolio rather than reliance on one product or geography. Continued like-for-like expansion can support scale, brand investment and improved operating leverage over the next several quarters.
Read all positive factors
PZ Cussons (PZC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£405.64M
Dividend Yield3.92%
Average Volume (3M)788.78K
Price to Earnings (P/E)20.3
Beta (1Y)0.71
Revenue Growth5.37%
EPS GrowthN/A
CountryUK
Employees1,966
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)0.05
Shares Outstanding428,724,950
10 Day Avg. Volume547,993
30 Day Avg. Volume788,783
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)1.53
Price to Sales (P/S)0.66
P/FCF Ratio14.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£115.00Price Target Upside11.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.08
Revenue Forecast (FY)£564.07M
PZ Cussons Business Overview & Revenue Model
Company Description
PZ Cussons Plc is a global consumer goods conglomerate dedicated to the development, distribution, and marketing of an extensive range of products across Europe, the Americas, Asia Pacific, and Africa. Its vast product range spans personal care (i...
How the Company Makes Money
PZ Cussons makes money mainly by selling branded consumer products to retailers, wholesalers, and distributors, generating revenue from the volume of goods shipped and the net selling price achieved across its categories (e.g., personal care/beaut...
PZ Cussons Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 10, 2027
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial momentum: broad-based revenue growth, strong free cash flow improvement, sharp reduction in net debt, resumed dividend growth and progress in key markets (notably Nigeria, Indonesia and early US traction for St. Tropez/Childs Farm). Management also delivered meaningful structural cost savings to fund increased brand investment and highlighted tangible progress on portfolio simplification and sustainability. Key negatives included a drop in adjusted EPS driven by tax and minority charges, some regional softness (UK/Continental Europe and APAC profit pressure), one-off FX gains inflating reported profit, impairments in underperforming brands and ongoing macro/FX uncertainties. On balance, the positives — cash generation, deleveraging, portfolio focus, and clear strategic progress — outweigh the challenges, though risks remain around regional execution, inflation and geopolitical developments.Positive Updates
Group Revenue Growth
Group revenue increased 5.4% to GBP 541.0m with like-for-like revenue growth of 5.8%, driven by growth across all four lead markets and the top 10 brands.
Negative Updates
Adjusted EPS Decline
Adjusted earnings per share decreased to 7.14p, driven by a higher effective tax rate (related to JV accounting changes) and a larger minority interest charge due to stronger growth in Africa and electricals where net ownership is lower.
Read all updates
Q4-2026 Updates
Positive
Negative
Group Revenue Growth
Group revenue increased 5.4% to GBP 541.0m with like-for-like revenue growth of 5.8%, driven by growth across all four lead markets and the top 10 brands.
Read all positive updates
Company Guidance
Management said FY‑27 has started in line with expectations and confirmed market guidance for operating profit of £58.0m–£61.2m (FY‑26 reported adjusted OP £59.5m; normalized ~£54m excluding a one‑off £5.4m FX gain), with a more balanced H1/H2 split than FY‑26 and no material FX impact expected on spot rates; they expect net debt to be lower again as strong cash generation continues — FY‑26 free cash flow was £54.7m (+£12m YoY), year‑end net debt fell to £25m (from £112m, a £87m reduction) aided by PZ Wilmar proceeds of £47.8m and surplus asset sales of £27.6m, leaving adjusted net debt/EBITDA at 0.7x (excluding Nigeria cash £24.5m) versus a 1.0–1.5x target and giving flexibility for a progressive dividend (proposed +2.8%), bolt‑on M&A and other capital returns while pursuing mid‑single‑digit like‑for‑like revenue growth and margin expansion over the cycle.PZ Cussons Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
58
Neutral
| Breakdown | May 2026 | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 541.40M | 513.80M | 527.90M | 656.30M | 592.80M |
| Gross Profit | 206.90M | 206.80M | 131.10M | 238.20M | 207.30M |
| EBITDA | 67.90M | 51.90M | -55.30M | 86.10M | 81.50M |
| Net Income | 19.80M | -5.80M | -57.00M | 36.40M | 47.90M |
Balance Sheet | |||||
| Total Assets | 594.50M | 615.20M | 649.60M | 988.40M | 941.90M |
| Cash, Cash Equivalents and Short-Term Investments | 51.90M | 45.10M | 51.30M | 256.90M | 164.30M |
| Total Debt | 89.80M | 172.00M | 178.70M | 264.20M | 191.00M |
| Total Liabilities | 352.40M | 401.70M | 414.40M | 566.30M | 493.00M |
| Stockholders Equity | 234.20M | 219.70M | 242.30M | 395.60M | 427.00M |
Cash Flow | |||||
| Free Cash Flow | 25.50M | 16.60M | 6.80M | 51.50M | 44.90M |
| Operating Cash Flow | 31.60M | 23.50M | 12.90M | 58.20M | 53.10M |
| Investing Cash Flow | 70.50M | 700.00K | 12.40M | 19.50M | -5.70M |
| Financing Cash Flow | -98.00M | -28.70M | -109.70M | 43.30M | 26.60M |
PZ Cussons Technical Analysis
Negative
103.60
Price Trends
102.76
Negative
93.80
Positive
84.29
Positive
Market Momentum
-1.74
Positive
33.39
Neutral
-7.97
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:PZC, the sentiment is Negative. The current price of 103.6 is above the 20-day moving average (MA) of 99.96, above the 50-day MA of 102.76, and above the 200-day MA of 84.29, indicating a neutral trend. The MACD of -1.74 indicates Positive momentum. The RSI at 33.39 is Neutral, neither overbought nor oversold. The STOCH value of -7.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:PZC.
PZ Cussons Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | £173.58M | 12.30 | 18.66% | 5.96% | 3.42% | -24.29% | |
75 Outperform | £307.27M | 10.81 | 30.98% | 1.60% | -0.84% | -25.31% | |
72 Outperform | £31.65B | 11.34 | 42.87% | 6.59% | -2.49% | 133.91% | |
68 Neutral | £99.55B | 20.64 | 37.05% | 3.62% | -20.44% | 4.96% | |
65 Neutral | £405.64M | 20.32 | 8.44% | 3.92% | 5.37% | ― | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
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PZ Cussons Corporate Events
Business Operations and StrategyExecutive/Board Changes
PZ Cussons Grants Long-Term Share Award to Supply Chain Chief
Positive
Sep 9, 2026
PZ Cussons has granted Chief Supply Chain Officer Steve Noble a conditional award of 136,584 ordinary shares under its Long Term Incentive Plan. The nil‑priced award, made outside a trading venue on 8 September 2026, aligns senior supply cha...
Business Operations and StrategyExecutive/Board Changes
PZ Cussons bolsters board with new non-executive directors
Positive
Sep 2, 2026
PZ Cussons has strengthened its board with the appointment of Peju Adebajo and Sarah Miles as non-executive directors, effective after the annual general meeting on 1 October 2026, succeeding outgoing directors Valeria Juarez and Jitesh Sodha. The...
Business Operations and StrategyExecutive/Board Changes
PZ Cussons refreshes board with new non-executive appointments
Positive
Sep 2, 2026
PZ Cussons has strengthened its board with the appointment of Peju Adebajo and Sarah Miles as non-executive directors, effective after the company’s annual general meeting on 1 October 2026. Their arrival coincides with the planned departure...
Business Operations and StrategyExecutive/Board Changes
PZ Cussons Non-Executive Directors Acquire Shares Under Fee Arrangements
Positive
Aug 25, 2026
PZ Cussons has disclosed a series of share purchases by its non-executive board members, including Chair David Tyler and directors Vivek Ahuja, Kirsty Bashforth, Jitesh Sodha and Valeria Juarez. On 24 August 2026, each acquired small volumes of or...
Business Operations and StrategyExecutive/Board Changes
PZ Cussons Executives Boost Equity Stakes Under Incentive Plan
Positive
Aug 19, 2026
PZ Cussons has reported that three senior executives, including Chief Executive Officer Jonathan Myers, have acquired partnership shares and received matching shares in the company under its Share Incentive Plan 2020. Chief Supply Chain Officer St...
Regulatory Filings and Compliance
PZ Cussons Chair David Tyler Boosts Stake With Share Purchase
Positive
Aug 17, 2026
Non-Executive Chair David Tyler has purchased 40,000 ordinary shares of PZ Cussons plc at a price of £1.03082 per share on 17 August 2026. The transaction, carried out on the London Stock Exchange, signals an increase in his personal stake an...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
PZ Cussons Publishes 2026 Annual Report and Sets Date for AGM
Neutral
Aug 14, 2026
PZ Cussons has published its Annual Report and Accounts for the year ended 31 May 2026, along with the Notice of Annual General Meeting and Form of Proxy, and is distributing these documents to shareholders. Digital copies are available on the com...
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial DisclosuresM&A Transactions
PZ Cussons lifts profit, cuts debt and resumes dividend growth after strategic reset
Positive
Aug 6, 2026
PZ Cussons reported a strong FY26, with like-for-like revenue up 5.8% and growth across all four lead markets and its top ten brands, while adjusted operating profit rose 24.5% excluding the divested PZ Wilmar joint venture. The group cut net debt...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
PZ Cussons Executives Boost Stakes Through Share Incentive Plan
Positive
Jul 21, 2026
PZ Cussons has disclosed that three senior executives have acquired shares under the firm’s Share Incentive Plan 2020, reinforcing management’s equity participation in the business. Chief executive Jonathan Myers, chief supply chain of...
Executive/Board Changes
PZ Cussons executives receive shares under 2020 incentive plan
Neutral
Jun 19, 2026
PZ Cussons has disclosed a series of routine share transactions involving senior management under its 2020 Share Incentive Plan. Chief executive Jonathan Myers, chief supply chain officer Steve Noble, and company secretary and general counsel Kare...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
PZ Cussons lifts profit outlook as strong trading cuts net debt
Positive
Jun 17, 2026
PZ Cussons reported continued strong trading for the year to 31 May 2026, with like-for-like revenue expected to grow about 6% to roughly £540 million, driven by broad-based gains across its four key markets. The company highlighted improving...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.